RIYADH: Saudi Arabia’s Minister of Commerce, Dr. Majed Al-Qasabi, announced that businesses need only one commercial registration to operate across the kingdom.
The newly approved Law of Commercial Registration and the Law of Trade Names aim to simplify business operations and reduce commercial burdens, according to Al-Qasabi.
These laws reflect the latest economic and technological advancements, aligning with Saudi Vision 2030’s transformative goals.
The Law of Commercial Registration, comprising 29 articles, streamlines registration, ensures data accuracy, and organizes information for easy access. It introduces a central computerized database containing merchant details and commercial activity specifics.
By eliminating the need for sub-registrations, this law reduces financial burdens on businesses, allowing a single commercial register to cover all operations nationwide.
The Law of Trade Names, with 23 articles, focuses on maximizing the value of trade names, protecting associated rights, and streamlining the name reservation and registration processes.
This law outlines the criteria for registering or reserving trade names, lists prohibited names, and allows for pre-registration name reservations. It also permits names using letters, numbers, and terms in Arabic, non-Arabic, or Arabized forms.